Mcx Daily Report - 16 Oct 2016

1. CapitalStars Financial Research Pvt., Ltd., 1 SEBI Registration Number: INA000001647 MCX Daily Report - 16 OCT 2017 News High lights Gold Prices Gain In Asia On Middle East Tensions, Iraq In focus. Gold prices edged up in Asia on Monday with tension in the Middle East supporting risk demand as Baghdad moved troops into the oil-rich Kirkuk region where the Kurdish Regional Government has a stronghold and has mulled a push for independence opposed by Iraq, Iran and Turkey. As well, President Donald Trump's decision last week to question whether to continue with a landmark deal with Iran has raised economic conflict concerns as well. This week, investors will be looking at U.S. housing data to assess the economic impact of the hurricanes which hit the southern U.S. last month. Thursday’s data on third quarter Chinese growth will be closely watched for insight into the health of the world’s second largest economy. Tuesday’s UK inflation data will also be in focus amid speculation over a possible rate hike by the Bank of England as soon as next month. The report came after the minutes of the Fed's September meeting published on Wednesday showed "many participants expressed concern that the low inflation readings this year might reflect not only transitory factors, but also the influence of developments that could prove more persistent." Copper Prices to Rise Further. Most Chinese economic data were positive. M2 growth saw the first rally in eight months in September. Social financing and new yuan lending topped forecasts. Import and export data showed domestic and overseas demand was strong. Weaker dollar also benefited copper prices. SHFE copper stocks stayed low. Technical side is positive. So, copper prices will rise further, but longs may take profits at highs. LME Lead Price to Remain Range-Bound. LME lead will fluctuate at highs between USD 2,525-2,550/mt today, and SHFE 1711 lead will hover between RMB 20,450-20,600/mt, with spot lead prices between RMB 21,000-21,150/mt. Crude Oil Gains In Asia As Iraq-Kurdish Tensions Noted. Crude oil prices soared in Asia on Monday as tension in between Baghdad and the Kurdish Regional Government in Iraq\'s Kirkuk went up a notch with troops sent to the oil-rich city and investors mulled the impact on trade as President Donald Trump moved to try and decertify a nuclear deal with Iran at the end of last week.Overnight, crude oil prices settled at a two-week high on Friday, as geopolitical uncertainty in the Middle East raised the threat of supply disruptions, particularly in the wake of U.S. President Donald Trump’s refusal to certify Iran’s compliance with the nuclear deal.As was expected, Trump on Friday decided against certifying the 2015 Iran nuclear agreement, raising the risk of doing business in the oil- rich Middle Eastern nation.Signs of bullish Chinese demand as well as falling stockpiles in the U.S. added to the upbeat mood. Despite the bullish signals, analysts warned that the Organization of the Petroleum Exporting Countries needed to extend its agreement to reduce oil output beyond its current March 2018 expiry date in order to rebalance the market.

2. CapitalStars Financial Research Pvt., Ltd., 2 SEBI Registration Number: INA000001647 MCX Daily Report -16 OCT 2017 Precious Metals CS GOLD (DEC) OVERVIEW: TREND : BULLISH RESIST 2: 30200 RESIST 1: 30000 SUP 1: 29700 SUP 2: 29500 WWW.CAPITALSTARS.COM +917316690000 CS SILVER (DEC) OVERVIEW: TREND : BULLISH RESIST 2: 41200 RESIST 1: 40900 SUP1: 40100 SUP2: 39800 WWW.CAPITALSTARS.COM +917316690000 Base Metals CS COPPER (NOV) OVERVIEW: TREND : BULLISH RESIST 2: 459.00 RESIST 1: 456.00 SUP1: 446.00 SUP2: 442.00 WWW.CAPITALSTARS.COM +917316690000 CS NICKEL (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 775.00 RESIST 1: 770.00 SUP1: 738.00 SUP2: 733.00 WWW.CAPITALSTARS.COM +917316690000 CS ZINC (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2: 219.00 RESIST 1: 217.00 SUP1: 208.00 SUP2: 206.00 WWW.CAPITALSTARS.COM +917316690000 CS LEAD (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2: 171.00 RESIST 1: 169.00 SUP1: 162.00 SUP2: 160.00 WWW.CAPITALSTARS.COM +917316690000 CS ALUMINIUM (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2: 141.00 RESIST 1: 140.00 SUP1: 136.00 SUP2: 135.00 WWW.CAPITALSTARS.COM +917316690000 Energies CS CRUDE OIL (OCT) OVERVIEW: TREND : BULLISH RESIST 2: 3450 RESIST 1: 3410 SUP1: 3290 SUP2: 3250 WWW.CAPITALSTARS.COM +917316690000 CS NATURAL GAS (OCT) OVERVIEW: TREND : SIDEWAYS RESIST 2: 201.00 RESIST 1: 198.00 SUP1: 191.00 SUP2: 188.00 WWW.CAPITALSTARS.COM +917316690000

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4. CapitalStars Financial Research Pvt., Ltd., 4 SEBI Registration Number: INA000001647 MCX Daily Report - 16 OCT 2017 Pick for the Day MCX Crude Oil Oct on Friday as seen in the daily chart opened at 3313 levels and day high of 3358 levels. During this period price corrected & made day low of 3300 levels finally closed at 3304 levels. Now, there are chances of further Upside movement technically & fundamentally. ∑ Iraqi forces took control of "vast areas" in Kirkuk without opposition from Kurdish Peshmerga, state TV said on Monday. The announcement came after reports that Iraqi forces began moving at around midnight toward an important airbase and oilfields located west of the city. Iraqi Prime Minister Haider al-Abadi gave orders to the security forces "to impose security in Kirkuk in cooperation with the population and the Peshmerga." ∑ Signs of bullish Chinese demand as well as falling stockpiles in the U.S. added to the upbeat mood. Despite the bullish signals, analysts warned that the Organization of the Petroleum Exporting Countries needed to extend its agreement to reduce oil output beyond its current March 2018 expiry date in order to rebalance the market. DAILY RECOMMENDATION: Buy MCX CRUDE OIL OCT AROUND 3290 LEVELS FOR TARGET OF T1 3340/T2 3360 WITH SL 3210 OF LEVELS.

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